The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1887-05-12
A Lamentable Failure.


State debt. While we regret that an equl- j
table adjustment of the differences between
the parties to the negotiations was not
reached, we cannot say that we are sur
prised. The manner in which the LegIsla-
tive Committee was appointed land the par
tizan character of the gentlemen.who COM
posed it, were evidence that the Democrat
ic party did not desire asettlement, unless
it could be made to promote the interest OF
that party. 1t was notable fact that not
a single member of the committee from
the House was Republican; and that in the
Senate the only member who is not lem
ocrat is Gen. Wickham who has been acting
with the Democrats on nearly all impoI-
tant State questions, especially those hav-
ing political bearing. When it is remem-
bered that the Republican party has nu-
merical following in Virginia of over l4o,-
900, and that III a fair election it has ma
jority of the voters Sin this State, 1t ap-
pearel singular that it was not accorded
representative on the committee, except as
stated above. The failure to conclude
settlement, therefore. must be borne by tie
party that had it in charge. The efforts
already manifested, to shoulder that re-
sponsibility upon Gen. Malone has neither
fact reason or truth in it. Mr.. Cooper.the
agent of the English bondholders, SETS that
at rest in the declaration he made to State
reporter that he had had 10 conversation
with Gen. Malone on the subject, and that
l.. Ii i'm 10
source. 1t is the consciousness that the
failure to effect settlement will convince
the people that the Democratic party is in
capable of handling the debt question, and
that it will seal its doom for all time TO
come in Virginia. that the effort is being
made TO shift the responsibility from itself.
1t will be properly appreciated by the peo-
pie and be properly passed upon by them
when the time comesfor Judgment.
The people OF the State were anxious tl.at
an agreement should have been reached
They realize the great harm the constant
strife and angry contention over this ilri-
tating question has done the Common
wealth. They recognize that with the con
troversy disposed Of, new dispensation Of
progress and prosperity would come upon
Virginia that capitaland enterprise would
flow into her borders, TO develop her re-
sources and increase her taxable yalues,
and that in few years the revenues de-
rived from incre ased assessments would
furnish the treasury with funds sufficient
to meet all demands. There is scarce ly an
intelligent man in the State, outside of
the circle of self seeking politicians. who
was not willing to ahate his preconceiyed
views, and meet the creditors Oh a basis OF
equity as it respects the debt. There i:
scarcely one of them, who has an intelli
gent. appreciation of the situation, wht
does. mot believe that an adjustment oughi
to and should have been effected. The,
will be sadly disappointed at the failure
and will not lie slow in locating the resron
sibility for this serious disaster, as W,
cannot but regard it.
There was ample room for concession
on the part of the State. and there wa
public policy in abating the demands o
any iron-clad formulation. rhe State hon
estly owes six per cent interest on the &C
the rate which the bonds originally bore
and there has never been a question of thu
justice and legitimacy of this rate of in
terest The plea for a reputation of
per cent of this rate was the condition O
the State and her inability to pay. If i
could be demonstrated that more THAI
3per cent. could be paid without increasin!
<hau - Il
no justice or honor in refusing to so slip
ulate. Had this spirit been manifested b.
the committee, entrusted with the settle
ment, the foreign commission would have
surrendered. no doubt, some of the condi
tions that did not relate to the rate of in
terest, and thus an adjustment beer
reached. The very composition of the leg
islatlye committee created distrnst in the
public mind. The spirit manifested in it:
appointment foreboded evil from the stai t
Tie outcome of the deliberations may bt
regarded as the natural result.
So We ha We had another session of The
Legislature, another failure, and another
heavy bill for the people to foot. Not ever
the Revised Code, the reception of which
was one of the simulated necessities for thu
extra session-has been allowed to be read
Thrust be rammed down the Threats of tEt
members of the Legislature, as well as Tx
people, without tie privilege OF knowing
what it contains. or of calling attentiea Il
statutes which ought to be eliminated
from it's pages. No opportunity is to be
offered for amendment, for repeal or mod
c,sion ia any way Three men-distin.
guished lawyers they may be-are to bt
accepted without question, as the embed
iment of the perfection of legal lore, anf
the people must not only bow TO it. but
pay a full round sum for the privilege.
Never in The history OF any people
except in the Legislature of 1883 81. When
legally elected members of that body wert
elected: the functions of the Executive
usurped and the whole State outraged
vas there a more offensive disregard OF
popular rights, and more utter nnconCerI
for the interests of the State, and leck-
less subsefyienca 10 insane partizan de-
signs shown, than by this Legislature.
They must 60 to the people now. The
party they represent will be called upon t6
answer for their work. The disappointed
hopes of the constituent body will rise up
in judgment. The disheartening effect o!
the monstrous abuse of power and failure
to meet public expectations will have o be
appeased, or woe to the men and the par
ty which have so outraged and wIonged
confding constituency.
Granting Charters.
Ii We are not mista aiken the statutes of
Virginia authorize the Circuit Court